Mumbai: Diversified firm, Aditya Birla Nuvo on Thursday said its consolidated net profit during fiscal year 2014-15 rose by 24 percent at Rs.1,416 crore against Rs.1,143 crore in 2013-14.

The net revenue during this time period rose marginally by two percent at Rs.26,516 crore compared to the net earning of Rs.25,891 crore in 2013-14.

“On a like-to-like basis, that is excluding IT-ITeS business which was divested w.e.f. May 9, 2014, the year on year revenue growth was 14 percent,” the Aditya Birla Group company said in a statement.

The assets under management of its financial services division, Aditya Birla Financial Services grew by 35 percent to Rs.164,995 crore while the consolidated revenue registered a growth of 19 percent at Rs.7,926 crore.

“The loan book continues to be well-diversified and healthy with Gross NPA (non performing assets) at 0.90 percent and net NPA at 0.32 percent. Led by strong equity support and internal accruals, net worth expanded by 46 percent to Rs.2,585 crore,” the company said.

Fashion and lifestyle division – Madura and Pantaloons, during 2014-15 also posted strong growth in earnings despite weak customer footfalls and higher promotions and discounting trends across the industry. The revenue from this segment rose by 15 percent at Rs.5,450 crore and its earnings before interest, taxes, depreciation and amortization (EBITDA) zoomed 32 percent to Rs. 532 crore.

Revenues during the period under review in its telecom division, Idea Cellular also jumped by 19 percent to Rs.31,527 crore and EBITDA surged by 32 percent to Rs.11,281 crore.

“With an annual cash profit generation of Rs.8,482 crore and equity of Rs.3,750 crore raised in 2014, Idea Cellular’s net debt to EBIDTA at 1.31 times remains strong. During the spectrum auctions held in March 2015, Idea won 79.4 MHz for $5 billion laying solid foundation and visibility for its business growth for the next 20 years,” the statement said.